Lidings' Partner Stepan Guzey commented on the information letter concerning cases dealing with foreigners published by The Supreme Commercial Court

Stepan Guzey, Partner and Head of Tax and Customs practice at Lidings participated in the discussion dedicated to the information letter concerning cases dealing with foreigners published by The Supreme Commercial Court. Mr. Guzey has shared his views live on ZakonTV, the first Russian television channel for professional legal community.

The story highlighting the information letter of the Supreme Commercial Court was released on August 8th. Among other things legal experts discussed the first five paragraphs of the document that directly address issues arising at conclusion of prorogation agreements between parties to the dispute, as well as clarification on the definition of personal law of a foreign company contained in the document. Stepan Guzey pointed out that most of the provisions contained in the information letter reflect current practice; however, some are unquestionable novels which practicing lawyers will need to consider. "In my opinion, all doctrines stipulated in the letter will continue to develop, but at this moment they reflect the global practice common primarily to countries with well-developed justice systems. Moreover, it is important to note that the letter contains a lot of receptions of those legal rules and regulations that apply to the resolution of disputes in commercial arbitration", - said Guzey.

The review presents issues arising from the application of interim measures by the courts. For example, it is stipulated that the Russian arbitration courts may adopt interim measures in cases tried in both international commercial arbitration court and public foreign court.

Among other things, the document addresses the issue of establishing the content of foreign law provisions. In particular, it states that the court may impose such obligation on the parties. This, however, does not exempt the court from the same obligation. The letter also points out that the Russian arbitration court may still hear the case if parties have been issued an injunction by a foreign court.

According to Stepan Guzey, at this point the Supreme Commercial Court’s initiative fully reflects the current state of Russian legal realm. "Russia today is becoming increasingly important as a market for the resolution of commercial disputes", - Guzey commented.

To learn more about the story dedicated to information letter concerning cases dealing with foreigners published by The Supreme Commercial Court, please visit TV channel’s website.